Ethereum Technical Analysis: ETH Eyeing Key Resistance Level

Feb 12, 2023

Ethereum (ETH) is currently trading at $1535. It has attempted to break the high resistance level of $1650 but was unsuccessful. If the resistance is broken and the price closes above $1700, there is a possibility of a significant upward movement in Ethereum. However, it is important to also keep in mind that rejection at the $1650 level could lead to a decrease in price towards $1100-$1200. The level of $1650-$1700 is crucial and should be monitored closely. The support levels for Ethereum are $1400 and $1200, while the resistance levels are $1650 and $2400.